(Bloomberg) — The savings from new fuel-efficient ship designs justify paying 25 percent more for a tanker that carries refined fuels, the industry’s largest trade group said.
The 15 percent cut in fuel consumption by so-called ECO ships would allow owners to pay $8.31 million more for a Medium- Range tanker than for a conventional vessel, Peter Sand, an analyst at the Baltic and International Maritime Council, known as Bimco, said in an e-mailed report today. For every $100 increase in the price of a ton of fuel, the value of investing in an ECO ship rises by $1.3 million, according to the report.
-By Isaac Arnsdorf. Copyright 2012 Bloomberg.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,959 members that receive our newsletter.
Have a news tip? Let us know.
April 19, 2024: Third Temporary Channel Opens The Captain of the Port established the Fort Carroll Temporary Alternate Channel, providing additional limited access for commercially essential vessels. Located on the...
March witnessed an upswing in trade at the Port of Long Beach, marking the seventh month in a row of year-over-year cargo growth. Last month, dockworkers and terminal operators handled...
April 19 (Reuters) – A New York state agency on Friday said it had failed to reach final contract agreements with the developers of three major offshore wind projects, blaming a decision by General...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,959 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
